foreign currency conversion

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For Immediate Release
September 10, 2015
Castex fully converts US $130m 6% FCCB into equity
Conversion complies with all provisions stated in the FCCB documentation
Debt reduction to strengthen balance sheet
NEW DELHI, India, September 10, 2015 – Castex Technologies Limited (referred to as “Castex” or the
“Company”, NSE: CASTEXTECH, BSE: 532282), India’s largest iron casting company has announced
that the Allotment Committee of the Board of Directors in their meeting held today, has allotted
3,94,05,266 equity shares of Rs. 2 each at the fixed conversion price of Rs. 103.005 per share. This
converts the outstanding US $80.8 million 6% Foreign Currency Convertible Bonds (“the FCCB”) out
of the total issue size of US $130 million. The FCCB issue has now been fully converted into shares of
the Company.
The FCCB was issued in April 2012. As previously disclosed by Castex to the stock exchanges, the
Company had already converted an aggregate of US $49.2 million FCCB of the US $130 million issue
pursuant to voluntary conversion notices received. Consistent with the Mandatory Conversion
Notice dated July 31, 2015 and in accordance with the conditions in the FCCB documentation, the
Company further received conversion notices for an additional US $80.2 million FCCB leaving a
balance of only US $0.6 million, which has also now been converted by Castex in accordance with all
stated mandatory provisions.
Over the last few weeks, Castex has been the subject of media reports alleging unfair practices. The
Company would like to clarify that it is fully compliant with all regulatory requirements and
therefore denies these allegations. Castex will continue to cooperate with all stakeholders and
regulatory authorities to respond to queries, if and when received.
The senior management team at Castex is committed and focused on strengthening the already
established manufacturing platform that the Company is recognised for. The Company is grateful to
its employees, customers, and other stakeholders for their long term support of its strategic vision,
commitment to manufacturing excellence and value creation.
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Enquiries
John Flintham, Amtek Group
+91 (0) 11 4234 4444
Amman Kumar, Amtek Group
+91 (0) 11 4234 4444
Jitesh Bhatia, Churchgate Partners
+91 (0) 22 6169 5988
For further information on Amtek Auto visit www.amtek.com
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This release contains statements that contain “forward looking statements” including, but without limitation, statements
relating to the implementation of strategic initiatives, and other statements relating to Amtek Group’s (i.e. Amtek Group
represents Amtek Auto, JMT Auto, Amtek Global Technologies, and other subsidiaries and associates) future business
developments and economic performance. While these forward looking statements indicate our assessment and future
expectations concerning the development of our business, a number of risks, uncertainties and other unknown factors could
cause actual developments and results to differ materially from our expectations. These factors include, but are not limited
to, general market, macroeconomic, governmental and regulatory trends, movements in currency exchange and interest
rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with
us, legislative developments, and other key factors that could affect our business and financial performance. Amtek Group
undertakes no obligation to publicly revise any forward looking statements to reflect future / likely events or circumstances.
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Safe Harbour
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